In commercial real estate brokerage today, as an agent, you can improve your prospecting results by approaching things with a targeted approach.
In other words, calling specific types of people for reasons that you have identified includes certain property owners in particular precincts and with specific properties.
When you put that ‘target’ focus into a prospecting campaign and do that with some focus and momentum, you find more listings and listing or transaction opportunities.
You get further results from real estate prospecting when you build a system around what you do and how it happens. It is a fact that ‘random’ real estate prospecting is better than nothing, but you can improve and fast-track results dramatically when you put your targeted system together.
So, how could this targeted system work for you? Here are some ideas to get you started most easily.
The first stage of ‘targeting’ things is determining where the priority precincts are and why those locations would be a ‘priority’ for you.
Think about your area and your allocated territory. If it is too large, break things down into smaller zones where you can research information, people, and properties.
Groups of 50 properties are an excellent way to start. That number of properties will usually be a few streets in your location. Use a map and colour code the map with your street prospecting and progress activity.
Since you can work across many roads in your territory throughout the year, the colours should change as you move through every 90-day contact cycle. It has been proven that 90 days is a good contact cycle to work with to create relevance as a real estate agent with the people you are ‘farming’.
After two or three contacts with the same people, you are remembered as a local real estate agent of consistency and relevance. That is precisely what you want, and more meetings will happen.
When you investigate your allocated territory or primary prospecting zone, you will see quality and sizeable buildings that will likely be your targets.
Given that many agents are likely to be chasing the owners of those buildings for listings, create your list of ‘priority properties’ and then start making direct contact with the owners of the properties on the list over time.
The key to winning their attention is to provide relevant property information in a timely manner. That can make your efforts more rewarding.
Remember this. Top agents are ‘relevant’ agents that consistently brand themselves locally with critical people and property owners. How can you do that?
Specific Property Types
Real estate prospecting gets easier when you concentrate on selected property types. That could be retail, office, medical, service stations, childcare, tourism, or industrial.
The point here is that you cannot and should not try to look for new business and listing opportunities in all property types; it is just too hard to cover all property types and activities.
What property types do you know a lot about? What property types do you enjoy working with? The answer to those questions will help you grow your real estate business faster.
Simple Strategies for Agents
These simple strategies will help you refocus your real estate business and gain momentum.
Stay focused on daily activity, and devote time to finding new people and property situations. Track all your conversations, and soon, you will find the opportunity to list quality properties.